Free to advisers and accessible from the investment consultancy’s website, Square Mile says its Academy of Funds will rate all the funds that it is prepared to recommend to clients. The group says the rating, either A, AA or AAA, will serve “as a mark of quality and a reflection of the level of conviction Square Mile has in a fund’s ability to deliver on expectations”.
It will also provide detailed fact sheets for all the funds it recommends
The launch of the service comes at a time when competition within the fund rating sector is steadily increasing. City Financial’s Adviser Centre launched in May, while the Chelsea Financial Services led service, FundCalibre is expected to launch later this month
Square Mile managing director, Richard Romer-Lee said: “In launching the Square Mile Academy of Funds we have set out to create a truly differentiated proposition where all advisers can benefit from the recommendations we make to our clients.”
According to Square Mile, the funds within the list will be reviewed quarter to assess performance and to ensure their stated process remains unchanged and are chosen based on the collective expertise of its eight person-strong research team.
“This highly qualitative research process assesses those responsible for managing funds, the investment process and philosophy underlying the strategy, portfolio construction and risk management,” the group said.
As a result of the evolving regulatory environment, Square Mile says its research process places particular emphasis on marrying the objectives of the fund and those of the investor.
Zurich UK Life, which has worked with the group since last year said it will be the first platform to carry the new ratings and fact sheets.
